Written by Poonam Chandersy
Technical Content WriterMore than 50% of eCommerce expansion is driven by Marketplace growth. While the online Marketplace business model is 2-3X more profitable than the traditional retail model, it is an entirely different model in which the platform is responsible for facilitating the transaction, showcasing the product and collecting the funds. The marketplace seller is answerable for everything else – setting up prices, uploading images and content, delivery of the goods, liability for the product and customer service. By liberating themselves to a large extent from current eCommerce constraints, Marketplaces guarantee substantial gains for operators, sellers and buyers.
In this blog, we highlight Mirakl Marketplace’s Integration with the HCL Commerce platform, discussing the Marketplace, Mirakl features and benefits, onboarding sellers, product synchronizations, order management, and Royal Cyber’s capabilities and implementation timelines.
Owing an online Marketplace is a distinctive opportunity for Retailers & B2B organizations to rapidly expand their product assortment by directly connecting third-party sellers with customers in the market. It’s a low-risk way to expand offers, without needing to buy, store, and ship products.
The traditional retail model has been around for a while, in which the supplier sends goods from their distribution center directly to the customer. The retailer who sells the product is liable for the product and is also responsible for setting up retail prices, maintaining content, images, processing refunds and all other tasks related to customer service.
The Marketplace is an entirely different model in which the Marketplace platform is only responsible for facilitating the transaction, showcasing the product and collecting the funds. The marketplace seller is answerable for everything else – setting up prices, uploading images and content, delivery of the goods, liability for the product and customer service. By liberating themselves to a large extent from current eCommerce constraints, Marketplaces guarantee substantial gains for operators, sellers & buyer.
In a Marketplace, integrating catalogs is a complex task, it includes:
Mirakl Catalog Manager has been specifically designed to remove the complexity of integrating catalogs from multiple sources
With extensive experience in integrating the Mirakl marketplace, Royal Cyber’s implementation includes eCommerce platform integration with Mirakl, Sterling OMS integration, connecting sellers with Mirakl, adding features to customer journey such as Multi-Offers, Buy Box, eCommerce UI changes amongst others. Usually, it takes 3-4 months to seamlessly integrate Mirakl with HCL Commerce, however the timelines also depend and vary based on the requirements and complexities of the customizations involved. Contact us today to learn more about how we can help with your Mirakl Marketplace platform integration.